Through an investigation of the Shenzhen Collective Consultation Ordinance and the Guangdong Regulations on the Democratic Management of Enterprises, this article demonstrates how transnational capital in China deploys its associational power alongside its structural economic power to lobby and pressure the national and local governments to advance its own interests. In addition, building upon the ideas of Hall and Soskice about the varieties of capitalism, the authors have developed the concept of “varieties of transnational capital” to account for the differing positions of overseas business associations regarding the two laws. We find that these positions are shaped by two determining factors: a) where the associations are situated in global production chains, and b) the industrial relations model in their home countries.